Showing stellar performance, the Indian hospitality sector witnessed a 100.3% YoY RevPAR growth in Q4, 2021. Goa recorded the highest performance in Q4 across all performance parameters. Pumped up with traveler confidence led by improved vaccination rates, and ease of travel restrictions, the quarterly RevPAR of Q4 (October-December) was at 41.9%, according to JLL’s Hotel Momentum India (HMI) Q4, 2021.
Whilst the latter part of Q4 started to witness some impact from the Omicron wave, last quarter (Q4, 2021) was largely the best performing period of the last year. Furthermore, staycations, long weekend leisure demands, weddings, and social gatherings continued to remain the base business for the hospitality sector. The hospitality sector is likely to recover well in 2022 even as uncertainty around different Covid variants and waves continue,” said Jaideep Dang, Managing Director, Hotels and Hospitality Group, South Asia, JLL.
The next two quarters are expected to witness growth in airline and rail travel and provide impetus to hotel performances as the current wave subsides. The domestic segment will continue to drive demand for both corporate and leisure travel. As restrictions against social gatherings ease, the social MICE segment will improve to provide much-needed business to the industry going forward.
